The value of the second part of issued bond offering is 810 000 euros, who was bougt by 9 private investors due private bond offering. 10% annual interest rate of bonds will be payable to investors quarterly. The nominal value of one bond is 10 thousand euros. The redemption date for the bond offering is September 8, 2025. The company will pledge, for the benefit of the Investors, a portfolio of credit loans in an aggregate amount not less than 125% of the nominal value of the Bonds in issued.
The attracted investments will be used to develop all business lines managed by NEO Finance, AB and to achieve higher sales growth.
“Our key objective is to continue our steady growth. We are confident that the investments we have attracted will allow us to further develop Paskolų klubas, Neopay and FinoMark and to increase sales volumes in all business sectors. We believe that these investments will provide an excellent opportunity to optimally exploit our business potential and strengthen our position in the market,” says Evaldas Remeikis, Chief Executive Officer of NEO Finance, AB.
In the first half of 2023, “NEO Finance”, AB demonstrated positive growth in all business segments. The volume of loans granted increased by 18.5%, and revenues grew by 36.4%. Income related to peer-to-peer lending experienced a significant increase of 40.3%, while revenue from electronic money issuance and management rose by 27.4%, and investment activity generated a notable growth of 43.6%.
The company’s EBITDA soared by 193%, reaching 366.6 thousand EUR during the first half of this year. Continuously improving its pre-tax profit line, the company achieved a pre-tax profit of 171.8 thousand EUR in the first half of 2023, while in the same period in 2022, it incurred a loss of 12.2 thousand EUR.